4WEALTH Advisors Inc. Purchases New Position in Diamondback Energy, Inc. (NASDAQ:FANG)

4WEALTH Advisors Inc. acquired a new position in shares of Diamondback Energy, Inc. (NASDAQ:FANG - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 2,232 shares of the oil and natural gas company's stock, valued at approximately $366,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Virtu Financial LLC purchased a new stake in Diamondback Energy in the third quarter worth about $1,215,000. Pine Valley Investments Ltd Liability Co boosted its position in Diamondback Energy by 11.3% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 2,027 shares of the oil and natural gas company's stock valued at $349,000 after purchasing an additional 205 shares in the last quarter. World Investment Advisors LLC bought a new position in Diamondback Energy in the third quarter worth about $3,935,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Diamondback Energy during the third quarter valued at about $138,000. Finally, Franklin Resources Inc. grew its position in shares of Diamondback Energy by 48.5% in the 3rd quarter. Franklin Resources Inc. now owns 146,870 shares of the oil and natural gas company's stock worth $28,008,000 after buying an additional 47,951 shares during the last quarter. 90.01% of the stock is owned by institutional investors.

Insider Transactions at Diamondback Energy

In other Diamondback Energy news, Director Frank D. Tsuru acquired 2,000 shares of the business's stock in a transaction on Friday, February 28th. The stock was bought at an average price of $156.51 per share, for a total transaction of $313,020.00. Following the acquisition, the director now owns 5,730 shares in the company, valued at approximately $896,802.30. The trade was a 53.62 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.70% of the company's stock.

Diamondback Energy Trading Up 2.1 %

Shares of Diamondback Energy stock opened at $134.83 on Friday. The company has a current ratio of 0.45, a quick ratio of 0.42 and a debt-to-equity ratio of 0.31. Diamondback Energy, Inc. has a twelve month low of $114.00 and a twelve month high of $214.50. The firm has a market capitalization of $39.65 billion, a PE ratio of 7.72, a P/E/G ratio of 1.24 and a beta of 1.44. The firm's 50-day moving average price is $143.19 and its 200 day moving average price is $161.40.

Diamondback Energy (NASDAQ:FANG - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The oil and natural gas company reported $3.64 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.57 by $0.07. Diamondback Energy had a return on equity of 13.68% and a net margin of 33.64%. The firm had revenue of $3.71 billion for the quarter, compared to analyst estimates of $3.55 billion. On average, sell-side analysts predict that Diamondback Energy, Inc. will post 15.49 EPS for the current fiscal year.

Diamondback Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, March 13th. Stockholders of record on Thursday, March 6th were paid a $1.00 dividend. This is an increase from Diamondback Energy's previous quarterly dividend of $0.90. This represents a $4.00 annualized dividend and a dividend yield of 2.97%. The ex-dividend date of this dividend was Thursday, March 6th. Diamondback Energy's dividend payout ratio (DPR) is currently 25.32%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Piper Sandler dropped their target price on shares of Diamondback Energy from $240.00 to $234.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Morgan Stanley reaffirmed an "overweight" rating on shares of Diamondback Energy in a research report on Tuesday, April 15th. Wells Fargo & Company reduced their price objective on Diamondback Energy from $215.00 to $207.00 and set an "overweight" rating for the company in a research note on Monday, April 21st. Raymond James dropped their target price on Diamondback Energy from $245.00 to $214.00 and set a "strong-buy" rating on the stock in a research report on Wednesday, March 12th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Diamondback Energy from $167.00 to $166.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Two equities research analysts have rated the stock with a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, Diamondback Energy presently has an average rating of "Buy" and an average target price of $199.00.

Diamondback Energy Profile

Diamondback Energy, Inc, an independent oil and natural gas company, acquires, develops, explores, and exploits unconventional, onshore oil and natural gas reserves in the Permian Basin in West Texas. It focuses on the development of the Spraberry and Wolfcamp formations of the Midland basin; and the Wolfcamp and Bone Spring formations of the Delaware basin, which are part of the Permian Basin in West Texas and New Mexico.

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